UBS Group Boosts Aramark (NYSE:ARMK) Price Target to $44.00

Aramark (NYSE:ARMK) had its price target lifted by UBS Group from $40.00 to $44.00 in a research report report published on Tuesday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities analysts have also issued research reports about the company. Royal Bank of Canada raised Aramark from a sector perform rating to an outperform rating and upped their price target for the company from $36.00 to $42.50 in a research note on Tuesday, September 17th. Oppenheimer upped their price target on Aramark from $36.00 to $39.00 and gave the company an outperform rating in a research note on Wednesday, June 12th. Truist Financial upped their price target on Aramark from $37.00 to $42.00 and gave the company a buy rating in a research note on Thursday, September 12th. Morgan Stanley upped their price target on Aramark from $35.00 to $38.00 and gave the company an equal weight rating in a research note on Monday, September 9th. Finally, JPMorgan Chase & Co. upped their price target on Aramark from $39.00 to $41.00 and gave the company an overweight rating in a research note on Monday, September 9th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Aramark has a consensus rating of Moderate Buy and an average price target of $38.95.

Aramark Stock Performance

ARMK opened at $37.51 on Tuesday. The company has a market cap of $9.86 billion, a PE ratio of 15.76 and a beta of 1.62. The stock has a 50-day moving average of $36.64 and a 200-day moving average of $34.03. Aramark has a 52-week low of $25.28 and a 52-week high of $38.99. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.86 and a current ratio of 0.96.

Aramark (NYSE:ARMK) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.30 by $0.01. The company had revenue of $4.38 billion for the quarter, compared to the consensus estimate of $4.31 billion. Aramark had a return on equity of 14.09% and a net margin of 1.93%. The company’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.36 EPS. As a group, equities research analysts forecast that Aramark will post 1.56 earnings per share for the current fiscal year.

Aramark Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 19th were paid a $0.095 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $0.38 annualized dividend and a dividend yield of 1.01%. Aramark’s payout ratio is 15.97%.

Institutional Investors Weigh In On Aramark

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Aramark by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 25,584,242 shares of the company’s stock worth $718,917,000 after buying an additional 139,693 shares during the period. Capital International Investors lifted its stake in shares of Aramark by 0.4% in the 1st quarter. Capital International Investors now owns 23,712,814 shares of the company’s stock valued at $771,141,000 after purchasing an additional 98,506 shares during the period. Farallon Capital Management LLC lifted its stake in shares of Aramark by 5.5% in the 1st quarter. Farallon Capital Management LLC now owns 17,822,937 shares of the company’s stock valued at $579,602,000 after purchasing an additional 923,683 shares during the period. Janus Henderson Group PLC lifted its stake in shares of Aramark by 5.4% in the 1st quarter. Janus Henderson Group PLC now owns 13,391,832 shares of the company’s stock valued at $435,501,000 after purchasing an additional 681,735 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Aramark by 18.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,731,963 shares of the company’s stock valued at $160,977,000 after purchasing an additional 720,738 shares during the period.

About Aramark

Aramark provides food and facilities services to education, healthcare, business and industry, sports, leisure, and corrections clients in the United States and internationally. It operates through two segments, Food and Support Services United States, and Food and Support Services International. The company offers food-related managed services, including dining, catering, food service management, and convenience-oriented retail services; non-clinical food and food-related support services, such as patient food and nutrition, retail food, environmental services, and procurement services; and plant operations and maintenance, custodial/housekeeping, energy management, grounds keeping, and capital project management services.